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Earnings Per Share

9 Months Ended

Sep. 30, 2019

9. ASC 260 Earnings Per Share (“EPS”) requires dual presentation of basic EPS and diluted EPS on the face of the condensed consolidated statements of operations. Basic EPS is computed as net income divided by the weighted average number of shares of common stock outstanding during the period. Diluted EPS reflects potential dilution that could occur if securities or other contracts, which, for the Company, consists of options to purchase shares of the Company’s common stock, are exercised.

The components of basic and diluted earnings per share were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Numerator:
Net income attributable to AVD	$	3,153	$	6,525	$	10,165	$	16,779
Denominator: (in thousands)
Weighted average shares outstanding-basic		29,057		29,399		29,013		29,340
Dilutive effect of stock options and grants		593		810		578		806
		29,650		30,209		29,591		30,146

For the three and nine months ended September 30, 2019 and 2018, no stock options were excluded from the computation of diluted earnings per share.